Joshua Kennon is a Managing Director of Kennon-Green & Co., a private asset management firm specializing in global value investing for affluent and high net worth individuals, families, and institutions. Nothing in this article or on this site, which is Mr. Kennon's personal blog, is intended to be, nor should it be construed as, investment advice, a recommendation, or an offer to buy or sell a security or securities. Investing can result in losses, sometimes significant losses. Prior to taking any action involving your finances or portfolio, you should consult with your own qualified professional advisor(s), such as an investment advisor, tax specialist, and/or attorney, who can help you consider your unique needs, circumstances, risk tolerance, and other relevant factors.

Book Recommendation: The Crash and Its Aftermath: A History of Securities Markets in the United States, 1929-1933 by Barrie A. Wigmore

In 1985, one of the greatest scholarly works ever penned on the Great Depression was published by Barrie A. Wigmore under the title The Crash and Its Aftermath: A History of Securities Markets in the United States, 1929-1933.  Using actual data from the period that took years to acquire, analyze, and interpret, Wigmore takes 751 pages…

Railroad Stocks - Historical Analysis

Union Pacific: A Company That Looked Expensive But Was Undervalued

The developments on the income statement and balance sheet of Union Pacific between 2005 and 2013 are an excellent example of why it is important for you to analyze data yourself, and come to conclusions based on reasonable, rational, intelligently organized facts.  The willingness to take action when others do not agree with you, and to have your action backed up by solid evidence, can make the difference between being comfortable and ending up rich.  Two of the world’s wealthiest titans demonstrated this truth, not only when buying shares of Union Pacific, but other railroads, as well.

Deep Dish Corn Bread Cooked In Dutch Oven

Dutch Oven Cornbread Recipe

I don’t talk about my personal life often, but the few times things do come out about my past, it should not come as a surprise to know that my younger days were filled with something known in American cuisine as “soul food”.  Big, black cast iron skillets on a stove, with bacon fat drained off to save money, to be reused during cooking.  Fried chicken.  Sun tea.  Coleslaw.  Cornbread.  It’s the type of food that got poor folks by in the Great Depression, that was made in the farmhouses and back swamp shanties before Social Security was established.  It’s cheap, made with what is abundant, and took centuries to perfect.  It was the United States’ answer to the so-called Peasant Dishes of France.

Cream and Butter Sauce with Romano Cheese Chicken and Sun Dried Tomato Closeup

Our Favorite Recipe for Blacked Chicken with Sun Dried Tomatoes with Romano Cheese, Cream, and Butter Sauce Tossed Into Fettuccine Noodles

Our Favorite Recipe for Blacked Chicken with Sun Dried Tomatoes with Romano Cheese, Cream, and Butter Sauce Tossed Into Fettuccine Noodles A couple of nights ago, we tried another recipe adapted from the famous Marcella Hazan Italian cookbook.  It involved a cream and butter sauce, and was one of the original versions of Fettuccine Alfredo…